Archive for the ‘Asian Economic News’ Category

ASEAN foreign ministers’ meetings held in Bali, Indonesia left those in attendance feeling that there will be increased Chinese cooperation and that this Chinese-ASEAN relations will increase economic growth and prosperity. ASEAN Secretary-General Surin Pitsuwan went onto elaborate that Chinese-ASEAN relations will improve the region and encourage stability. With China as the second largest economy […]

Combating any potential risk for its nation’s growth, the Central Bank of Singapore increased its inflation projections, putting forecasted growth at a lower end of estimates. The Singapore CPI, or consumer price index is up to 4 to 5 percent in 2011, an increase from the previous 3 to 4 percent. With the new […]

Pakistani and Indian officials renewed discussions of peace after talks stalled in 2008 upon the Mumbai terrorist attacks in which the attackers had ties to Pakistan. Kashmir, an overwhelmingly Muslim populated region has been a topic of high tension ever since India was released from British rule in 1947. Since its independence there has […]

Starting in January of this year, Mcdonalds across Hong Kong started offering discounted wedding packages. Initially in a test phase period, they were offered in 3 Mcdonalds locations in the former British colony. The average wedding in Hong Kong costs $1,300, but these Mcweddings will cost a mere $129, giving consumers or loving couples a […]

In the city of Loudi in the Hunan Province, workers are building a 30,000 seat Olympic Stadium, swimming complex and gym. Despite the fact that the average income in the city is just over $2,000 a year and that no olympics has been scheduled there, the multi-million dollar project continues. Financed by 1.2 billion […]

It was announced that the Obama administration was suspending its military aid to Pakistan upon worries that the money, meant to aid the Pakistani military and officials, is finding its way to terrorists in the region or simply not finding its way to do the job they are supposed to be doing. $300 million of […]

The Obama administration announced the suspension or cancellation of millions of dollars in military aid to Pakistan. This comes as questions regarding the support of Pakistan’s government in the War on Terror remains unanswered. It is not clear if the money, meant to combat terrorists and extremist insurgents is actually being used for that purpose. […]

The government led by President Lee Myung Bak’s announced that it desires letting students off from school on Saturdays. The intention of this plan is to give South Korean children more time to play and have recreational time. Many mothers have other plans though. If the reform is put into practice, it is expected that […]

China is seeking to consolidate several industries over the next 5 years in an effort to increase industrial concentration and reduce overcapacity. According to Su Bo, Vice Minister of the industry and information technology, priority will be given to the automobile, electrolytic aluminum, equipment manufacturing, IT, cement, steel, rare earth mining, and medical industries. This […]

The European Union and India began negotiations in 2007 on a free trade agreement that could generate near $134 billion dollars annually. While seemingly good news, the pact was highly controversial. Groups including the United Nations expressed concern on how it would impact India’s ability to continue producing generic anti-retroviral (ARV) drugs, leading to the […]

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